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WATER LEASE <br /> THIS WATER LEASE ("Lease") is made and entered into this day of <br /> 2015, by and between the CITY OF LOVELAND, COLORADO, a home rule municipality, <br /> whose address is 500 East Third Street, Loveland, Colorado 80537 ("City"), and JAKE <br /> KAUFFMAN & SON, INC., a Colorado corporation, whose address is 808 South County Road <br /> 9E,Loveland, Colorado 80537 ("Lessee"). <br /> WHEREAS, Lessee desires to acquire augmentation water for the purpose of augmenting <br /> certain wells,ponds, or pumps along the Big Thompson River;and <br /> WHEREAS, the City is the owner of certain water that may be used for the purpose of <br /> augmentation; and <br /> WHEREAS, the City is willing to lease, on a temporary basis, a portion of its fully <br /> consumable water, which may include, but is not limited to, Windy Gap re-use water or water <br /> stored in the Loveland Storage Reservoir (commonly known as Green Ridge Glade Reservoir) <br /> under the terms and conditions of the Transfer Decrees entered in Case No. 82CW202A or Case <br /> No. 2002CW392 to Lessee on the terms and conditions set forth herein. <br /> NOW, THEREFORE, in consideration of the mutual covenants and agreements herein <br /> contained,the parties agree as follows: <br /> 1. Term. This Lease shall be effective for a term of three (3) years commencing <br /> January 1, 2016 and ending December 31,2018,unless sooner terminated as provided herein. <br /> 2. Water. The City shall supply up to sixty-five (65) acre-feet of augmentation <br /> water per year to Lessee for Lessee's temporary substitute supply plan(s) for replacement of <br /> depletions, including evaporation, at Kauf&nan#1 Pit and Wagner/Kauffman#3 Pit, M-99-069, <br /> at Kauffman Pit M-78-327 (also known as Great Western Pit #1), or as directed by the River <br /> Commissioner or the Office of the State Engineer. <br /> 3. Annual Lease Payment. <br /> a. Regardless of water supply source, Lessee shall annually pay the City <br /> Four Hundred Dollars($400)per acre-foot of water delivered under this Lease. <br /> b. The Lessee's engineer shall supply to the City an anticipated schedule of <br /> replacement for the calendar year, by November 15 of the previous calendar year. The <br /> Lessee is responsible for notifying the City if this schedule changes. <br /> C. The City shall coordinate replacement of the water to the Big Thompson <br /> River with the River Commissioner or the Office of the State Engineer. Accounting of <br /> such will be made available to the River Commissioner and the Office of the State <br /> Engineer. <br /> AGR Water T eav, KnufTman 20 16-M I R <br />